Travel giant Expedia to cut 3,000 jobs

27 Février, 2020, 10:06 | Auteur: Auguste Feret
  • Expedia to cut 12 percent of workforce, including hundreds of Seattle jobs

Online travel giant Expedia will cut about 3,000 jobs after what the company described in a statement as "disappointing" performance a year ago.

Expedia is planning to lay off 12% of its global workforce, citing its disappointing 2019 business performance and an "unhealthy and undisciplined" growth strategy.

The job cuts include 500 people in its headquarters in Seattle, a company spokeswoman said in a statement.

Expedia's job cuts arguably represent a cry for help from the traditional online travel industry, which is struggling to adapt as Google enters the online travel market on the back of its internet search market dominance.

Barry Diller, Expedia's chairman, has previously called Expedia a "bloated" organization and has said that the company lost "clarity and discipline" in recent years. An internal memo seen by The Financial Times and CNN, the travel agency said projects, activities, teams and roles will be reduced and streamlined to put focus on the overall organisation's growth.

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These layoffs - totaling 12 percent of Expedia's employees - come as part of what Geekwire says will be $300 to $500 million of annual cost savings across the company. "We have restarted the journey", the email said.

In December, the company's top executives, CEO Mark Okerstrom and CFO Alan Pickerill, resigned due to disagreement between the executives and the board regarding the company strategy and future efforts. "The board disagreed with that outlook, as well as the departing leadership's vision for growth, strongly believing the company can accelerate growth in 2020", Diller added.

Shares in Expedia fell around three per cent following release of the news.

Expedia has declined to comment on Marketing's queries.

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